American Century Companies Inc. Purchases 275,369 Shares of Steelcase Inc. (NYSE:SCS)

American Century Companies Inc. boosted its position in Steelcase Inc. (NYSE:SCS - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,024,828 shares of the business services provider's stock after acquiring an additional 275,369 shares during the quarter. American Century Companies Inc. owned 2.66% of Steelcase worth $35,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Steelcase in the 4th quarter valued at approximately $36,000. Olympiad Research LP acquired a new stake in Steelcase in the fourth quarter valued at approximately $134,000. Aigen Investment Management LP bought a new stake in shares of Steelcase during the fourth quarter worth $155,000. Centiva Capital LP acquired a new position in shares of Steelcase during the third quarter worth $181,000. Finally, Ieq Capital LLC bought a new position in shares of Steelcase in the 4th quarter valued at $203,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is currently owned by insiders.

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Steelcase Trading Up 0.6 %

Shares of Steelcase stock traded up $0.07 during midday trading on Wednesday, reaching $11.39. The company had a trading volume of 110,721 shares, compared to its average volume of 636,475. The stock has a fifty day moving average price of $11.57 and a 200 day moving average price of $12.30. Steelcase Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $14.74. The firm has a market cap of $1.30 billion, a PE ratio of 11.85, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21.

Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. On average, equities analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.40 annualized dividend and a dividend yield of 3.51%. Steelcase's payout ratio is 39.60%.

Analyst Upgrades and Downgrades

Separately, Sidoti upgraded Steelcase to a "hold" rating in a research report on Friday, March 28th.

Steelcase Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.